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$580,000

Under Contract
1488 E 580 S, Provo, UT 84606
6 Beds
3 Baths
2,494 Square Feet
0.19 Acres Lot
Built in 1963
Under Contract
1 Units
Checked: 9 hours ago
Updated: Jul 30, 2025 at 03:08AM

Investment Summary


Monthly Cash Flow
-$1,688
Cap Rate
2.2%
Cash-on-Cash Return
-15.2%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-10.7%

Property Description


0.19 Acres Lot
Built in 1963
Under Contract
1 Units

SELLER IS VERY VERY MOTIVATED TO SELL! SELLER IS OFFERING SELLER CONCESSIONS WITH A FULL PRICE OFFER!! Rare Find Under $600K + Seller Bonus! It's not every day you find a 6-bed, 3-bath home in this neighborhood....especially one this beautifully remodeled and priced under $600K! Tucked on a quiet street near Slate Canyon, BYU, downtown Provo, and Splash Summit, this home offers a lifestyle of space, comfort, and unbeatable value. Step into a bright open-concept kitchen with sleek modern finishes, a spacious main living area, and a large basement rec room ideal for entertaining or multi-use living. The primary bedroom features its own private ensuite, while the layout, 3 bedrooms on each level, makes it perfect for families, guests, or HOUSE HACKING. Outside, the backyard is ready for summer BBQs, playtime, or peaceful evenings under the stars. What makes this deal even better? Recently adjusted price = more value, less competition Seller will add a carport with a full-price offer! Opportunities like this are rare - especially at this price point. Don't miss your chance to get space, location, and upgrades all in one. Come see it before it's gone! Square footage figures are provided as a courtesy measurement. Buyer is advised to obtain an independent measurement and verify all information.

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

  • Exterior Walls Materials: Masonry
  • Roof Type: Gable
  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 410310074
  • Lot Size: 8276 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: A-Frame
  • Year Built: 1963

Tax Information

  • Annual Tax: $558

Utilities

  • Heating: Central, Natural Gas
  • Cooling: Central Air

Location

  • County: Utah

Listing Details


Listed by:
Margarita Jimenez Calderon
Real Broker, LLC
(801) 505-9668

Source:
UtahRealEstate (Wasatch Front)
MLS#: 2092989
UtahRealEstate (Wasatch Front)

Investment Summary


Monthly Cash Flow
-$1,688
Cap Rate
2.2%
Cash-on-Cash Return
-15.2%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-10.7%

Purchase Details

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Purchase price:
$580,000
Amount financed:
-$464,000
Down payment:
$116,000
Closing costs:
$17,400
Rehab costs:
$0
Initial cash invested:
$133,400
Square feet:
2,494
Cost per square foot:
$233
Monthly rent per square foot:
$0.64

Financing Details

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Loan amount:
$464,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,745
Property tax:
$47
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,904

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (3%)
3%-$47-$558
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (28%)
28%-$447-$5,358

Cash Flow


Monthly Yearly
Net operating income:
$1,057 $12,684
Mortgage payments:
-$2,745 -$32,940
Cash flow:
$1,688 $20,256